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India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

rupee ended higher on Friday after JPMorgan announced it will include the country's government bonds in its emerging market index, which could lead to billions of dollars of inflows. The rupee ended at 82.93 against the U.S. dollar, compared with 83.09 in the previous session. The currency gained 0.3% this week even as the dollar index rose to an over 6-month high in Asia and was on track for its 10th consecutive weekly gain. Importers' dollar purchases capped gains in the rupee after the currency opened at 82.8225 on Friday, traders said. India's inclusion in JPMorgan's index will start on June 28, 2024, and extend over 10 months.

MotoCaop during their live broadcast of the practice session showed a wrong map. The map didn't include the union territory of Jammu and Kashmir and Ladakh. «We'd like to apologise to our fans in India for the map shown earlier as part of the MotoGP broadcast,» said MotoGP «It is never our intent to make any statement other than that of support and appreciation for our host country.» the statement read. MotoGP has also shown excitement to be able to enjoy the IndianOil Grand Prix of India and its love for the tracks of the Buddh International Circuit, Noida. The Buddh track on the outskirts of the capital New Delhi hosted Formula One for three seasons until 2013.

artificial intelligence (AI) into its processes. The company has integrated its Customs House Agent (CHA) software with an AI solution. One of the achievements of this AI integration is the introduction of «Single Click Automation.» By incorporating AI into various external interface processes, Jeena & Company has achieved improvements in efficiency.

Railway Board has called for a more thorough investigation in cases of faults after mechanical probes reported no defects while automated ones flagged issues. A letter to zonal railways sent out earlier this month noted that the “increasing number of Primary Spring failure and brake binding in coaches are a cause of serious concern.” These automated alerts are generated by the On-line Monitoring of Rolling stock System (OMRS), which studies acoustics along a track to assess the health of rail equipment.

Mirae Asset Mutual Fund has launched Mirae Asset S&P BSE Sensex ETF, an open-ended scheme replicating/tracking S&P BSE Sensex Total Return Index. The new fund offer or NFO of the scheme is open for subscription and will close on September 26. The scheme will re-open for continuous sale and repurchase from October 3. The performance of the scheme will be benchmarked against S&P BSE Sensex TRI (Total Return Index). The scheme will be managed by Ekta Gala and Vishal Singh.

(Reuters) — The moment investors have been waiting for seems to finally have arrived, as major central banks have indicated they are nearing the end of their string of interest-rate rises.

retirement planning in their mid-40s when the goal is in a clear line of sight and demands urgency. Thus, they miss out on crucial years to build the desired corpus," said Ajinkya Kulkarni, Co-Founder and CEO, of Wint Wealth. Finding the right balance between spending today or saving for tomorrow is difficult without a goal.

DuckDuckGo Gabriel Weinberg said in federal court. On Thursday, Weinberg spoke in court during the government's antitrust trial involving Google's parent company, Alphabet Inc. The Department of Justice says that Google pays over $10 billion annually to other tech companies, phone manufacturers, and wireless service providers.

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«Second, this inclusion, JP Morgan GBI-EM diversified 110 inclusion, obviously it is good news for the country, for the bond markets and what is good news for bond markets is obviously also good news for primary dealers like PNB Gilts,» says Vikas Goel, MD, PNB Gilts.PNB Gilts is in the business of debt broking. Now that the bond market will open up, how will life change for PNB Gilts?So first, let me clarify, we are not a debt broker; we are a primary dealer in government securities, the only listed primary dealer. So our license is primarily focused on allowing us to be a market maker and supporting the government's borrowing program via being an underwriter. So we are essentially not a broker, we are a dealer. Second, this inclusion, JP Morgan GBI-EM diversified 110 inclusion, obviously it is good news for the country, for the bond markets and what is good news for bond markets is obviously also good news for primary dealers like PNB Gilts.

MotoGP Bharat prepares to kick off at the Buddh International Circuit (BIC) this Friday. While the top racers faced a slight delay due to visa issues, most of them have now arrived at the venue, eager to test the tracks and immerse themselves in the Indian experience. An unexpected drizzle in the afternoon added to the ambiance. To welcome the riders and their teams, a vibrant dance show was arranged at BIC.

BERLIN (Reuters) — German business activity fell for the third consecutive month in September due to a sustained decline in demand for goods and services, pointing to a «deep» economic contraction in the quarter, a preliminary survey showed on Friday.

(Reuters) — European shares slipped on Friday and were on track to close a week packed with central banks' decisions sharply lower as investors assessed the prospects that borrowing costs will remain high for some time.

GrainCorp boss Robert Spurway says the company can cope well with adverse weather conditions as forecasts point to an end to a golden run of harvests.

The 10-year benchmark 7.18% 2033 bond yield was at 7.1100% as of 10:00 a.m. IST, after closing at 7.1443%, while the liquid 7.18% 2037 bond yield was at 7.2286% after ending at 7.2606% on Thursday. The yields had eased to 7.0717% and 7.1784%, respectively, earlier in the day. «The wait is finally over.

Analysts are mixed on the IPO mainly due to the competitive nature of the industry in which the company operates. «We advise investors to wait and watch the performance of the company once the stock is listed and then take a call,» said Avinash Gorakshakar of Profitmart Securities while recommending an «Avoid» rating. However, StoxBox said the company's product catalogue, stronghold in the southern markets and a good track record are some of the key positives driving the company's future prospects. «The pricing looks attractive vis-à-vis its peers as it values MVGJL at 11.7x of its FY23 earnings. We, therefore, recommend a SUBSCRIBE rating to the issue,» it said. Vaibhav Jewellers is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana. About 77% of its retail showrooms are in tier-2 and tier-3 cities and the rest are in Hyderabad and Visakhapatnam catering to urban consumers. The IPO comprises a fresh issue of Rs 210 crore and an offer for sale (OFS) of up to 28 lakh equity shares.

ANI. The Ahmedabad facility will be responsible for building two critical systems for the Gaganyaan mission- the cabin systems and communication systems. The cabin will house three seats for astronauts, along with a lighting system and two display screens to monitor various parameters inside the cabin.

Investing.com-- The Bank of Japan held interest rates at negative levels as widely expected on Friday, and said that it will continue with its current pace of asset purchases and yield curve control to stimulate the economy. 

By Yuka Obayashi